Former hippie Richard Hayne opened his first apparel shop with his ex-wife in the mid-70s near the University of Pennsylvania with only $4,000. Today, Urban Outfitters is a nation-wide chain with more than 400 locations and over $3 billion in revenue. Hayne, Urban Outfitter's chairman and president, became the company's CEO in 2012 after five-year CEO Glen Senk left to run New York-based jeweler

and watchmaker David Yurman. Urban Outfitter, which targets teens and young adults, has been at the center of controversy over the years, and its products have offended a wide swath of America, including transgender and gay communities, Navajos, Irish Americans and Jews. Latest transgression: a tapestry that is "eerily reminiscent to the clothing forced upon the victims of the Holocaust," according to the Anti-Defamation League. Richard's wife Margaret sits on Urban's board and is president of wholly owned brand Free People. Together, they also own the 700-acre Doe Run Dairy farm in Pennsylvania, a cheese-producing property.

The box that has housed the Wu-Tang Clan’s secret album for much of the past year recently arrived at MoMA PS1 in Queens, carried by a white-gloved porter and flanked by security guards–but it almost didn’t make it through customs. read »

Asia has a record number of billionaires on the new Forbes Billionaires List out yesterday, a sign of great prosperity. Yet many pillars of the Asian business landscape are now in their twilight years. Among them, Asia’s richest man, Li Ka-shing, is 86.

What are the risks involved when great wealth and power pass from one generation to read »

Twitter co-founder Jack Dorsey was threatened by supporters of the Islamic State, raising the issue of how social media can be used both to liberate the oppressed and to spread fear and messages of terror. read »

In a year when growth in China’s e-commerce growth captured investor attention globally, an entrepreneur from more traditional industries — real estate and entertainment — leads a record 213 mainland Chinese on this year’s Forbes Billionaires List.

Wang Jianlin’s estimated wealth soared to $24.2 billion this year from $15.1 billion a read »